Original article by Peter Ker
The Australian Financial Review – Page: 15 : 21-Jan-26

Some of Glencore’s biggest shareholders have stated that Rio Tinto must agree to buy the entire company rather than merely its most desirable assets, such as its copper and zinc mines. Rio Tinto is unlikely to want to retain Glencore’s coal assets if the proposed merger goes ahead, given that it exited the sector about eight years ago. However, some Glencore shareholders have warned that they are unlikely to support Rio Tinto’s bid if it seeks to ‘cherry-pick’ the company’s assets. The investors also contend that Rio Tinto will need to offer a takeover premium if its management team led by CEO Simon Trott is to run the merged group.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC

Original article by Mark Wembridge, Tom Rabe
The Australian Financial Review – Page: 15 : 13-Jan-26

BHP has declined to comment on speculation about its possible response to the renewed merger between Rio Tinto and Glencore. Romano Sala Tenna from Katana Asset Management says it could make more sense for BHP to merge with Glencore, given that both companies have significant coal assets and Rio Tinto has completely exited that sector. He adds that growing global sovereign risk means that achieving scale in the mining sector also makes sense. MKI Global Partners’ CEO Mark Kelly in turn notes that BHP is seeking to reduce its reliance on iron ore for export earnings.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, KATANA ASSET MANAGEMENT LIMITED, MKI GLOBAL PARTNERS

Original article by Brad Thompson
The Australian – Page: 13 & 14 : 13-Jan-26

The proposed merger between Rio Tinto and Glencore would require regulatory approval in a number of countries, including Australia. Resources Minister Madeleine King does not believe that a merger would be negative for Australia, noting that both companies have a significant presence in the nation’s resourcs industry; she adds that Rio Tinto will always be an important part of the domestic economy. Meanwhile, Barrenjoey analysts suggest that Glencore’s coal assets could be spun-off to existing shareholders if the proposed merger proceeds, given that Rio Tinto has exited coal mining.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, BARRENJOEY CAPITAL PARTNERS PTY LTD